Reports of our death are an exaggeration: Difference between revisions

Reports of our death are an exaggeration (view source)

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 === Yes, bank staff are rubbish ===
-We lionise the human spirit in the abstract. This is not to say we sanctify all bank employees in the particular.  an unusually are gifted, intelligent bunch. You are invited to read other pages of this site for our views on that. Commercial banks act as boggling flywheels ''despite'' disastrous tech and a surfeit of mediocre, bureaucratically-conditioned staff.
+Now, to lionise the human spirit ''in the abstract'', as we do, is not to say we sanctify bank employees as a class ''in the particular''.  The JC has a quarter century among them. They are unusually paid, but not gifted or intelligent.
+It is an ongoing marvel how commercial banking organisations can be so reliably profitable given the calibre of the hoardes they employ to steer them. We have argued [[mediocrity drift| elsewhere]] that informal systems tend to be configured to ''ensure'' staff mediocrity over time. Others have too.<ref>See {{br|The Peter Principle}}; {{br|Parkinson’s Law}}: for classic studies.<>
+But the current orthodoxy contributes to this system. Use machines , networks and connectivity to [[downskill]]. Why pay for expert staff to do drudgery in London when you can have [[School-leavers in Bucharest]] do it for a quarter the cost?
+''Why are you suffering drudgery at all''? Why aren’t you using the great experience and expertise of your people to ''eliminate'' drudgery?
+There is a negative feedback loop here: the experts in London are ''able'' and ''incentivised'' to eliminate drudgery. ''Able'' because they understand the product and the market, and know well what matters and what doesn’t. ''Incentivised'' because ''this stuff is boring''.
+Outsourced school-leavers in Romania are not: they don’t understand the process — they ylare only on the park because of a playbook — and they’re not incentivised because it puts them out of a job. Recall the [[agency paradox]].
+So we construct the incentives inside the organisation to have a will to bureauracy and complicatedness. We continue to get away with it because of the scale these businesses run on.
 Imagine setting them free: automating the truly quotidian stuff, re-emphasising away from bureaucracy as the greatest good, and towards relationships management and expertise?